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How to make rational decisions
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Probability Distributions
In data science, probability is the percent chance that something will happen. A zero(0) in this case means the event will not occur, while the digit 1 denotes that we are certain it will happen.
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Probability
Most of us understand probability and the likelihood of certain things to happen, or not happening, but still do not fully believe in it. For us, it’s about right and wrong, black or white.
Example: Nate Silver(a numbers guy) said in 2016 that Hillary Clinton has a 72 percent chance to...
Common Probability Distributions
The common probability distributions are:
- Uniform Distribution: It is a simple off or on distribution, where anything outside the given range is 0.
- Normal (or Gaussian) Distribution: This distribution has the same standard deviation in all d...
When improbable events happen
While particular improbable events are improbable, the chance of any improbable event happening at all is highly probable.
- Your chances of getting struck by lightning are almost zero. But with so many people walking around and so many storms, it has to happen to som...
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